In the latest development involving the Malaysia My Second Home (MM2H), the government will “set the requirements” to divide the programme into three categories.
Tourism, Arts and Culture (Motac) minister Datuk Seri Tiong King Sing said each of the three categories, Platinum, Gold, and Silver, will require a different amount of permanent applicants’ savings, The Star reported.
“We will review the eligibility requirements to make them flexible and anyone can apply.
“To provide the foreigner a choice, I recommended three categories: Platinum, Gold, and Silver,” he said at the Malaysia Budget and Business Hotel Association 23rd anniversary dinner yesterday.
Applicants of the national MM2H must have permanent savings of at least RM1 million and liquid assets of RM1.5 milllion.
They must also have an offshore income of at least RM40,000 a month.
In April, government announced that it will review the terms and conditions for the MM2H scheme following reports of a 90% drop in applicants because of strict the requirements.
It was also announced in April that Putrajaya will set up a one-stop centre under the MOTAC for the programme.